CambodiaPrak Koemyean
With a loan of EUR 2,950 Koemyean can purchase extra hectares of farmland to grow more cassava and cashew.
€2,950
3.00%
24 months
6 months
EUR
Currency| Amount | €2,950 |
| Interest | 3.00% |
| Maturity | 24 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Read the information document of the issuer here
Koemyean, 46, is the woman in the photo. She lives in Chamka Leu district, Kampong Cham province with her husband. She is a hard working woman and has been selling fishes and groceries to make profits for over 20 years to support the living. Meanwhile her husband is a taxi driver and farming for additional profits.
Due to the shortage of finance, thse loan will help to purchase five more hectares of farmland. She believes this loan is an economic opportunity to expand the farm by boosting the crop yields.
Local partner Kredit provides this loan with a maturity of 24 months.
| Company name | Phillip Bank |
| CEO | Koemyean Prak |
| Founded | 1989-01-01 |
| Location | Kampong Cham Province |
| Sector | Agriculture |
| Turnover | €18,305.08 |
| Employees | 1 |
Impact
Phillip Bank is a microfinance institution in Cambodia that invests in people and their businesses via Micro-loans. By providing working capital to local entrepreneurs, they enable people in Cambodia to further expand their businesses and reach their potential for business growth and job creation.
Micro-loans are an effective tool against poverty. Research has shown that communities with more viable small local businesses have more balanced economies and higher average prosperity levels. Their turnover mainly flows back to their communities, ensuring economic growth and stability. The capital provided by Phillip Bank works towards sustainably improving families' financial well-being in rural and urban communities.
SDG’s impacted
With this project you are contributing to the following Sustainable Development Goals:
SDG 1. No poverty
SDG 8. Decent work and economic growth
Read more about the impact you can make through our platform and the SDGs on our impact page.
- With this investment 1 job is created
- With this investment 4 lives are improved